Castle Craig is a rehab centre in Scotland that deals with all kinds of addictions, as well as grief issues, unresolved trauma, eating disorders and self harm. Over the past six years, it has seen more than 100 people with dangerous cryptocurrency problems.
‘That’s not to say that each and every one has been addicted to crypto,’ explains Anthony Marini, a senior specialist therapist at the centre. ‘But certainly a lot of them have had the mental obsession with cryptocurrencies.’
Anthony believes this is a trend that will continue to grow.
‘Every single time you invest or trade in cryptocurrency, you’re actually gambling,’ he explains.
‘It doesn’t look real and people think they are trading, not betting. A lot more people are betting through the internet because it doesn’t feel like real money.’
‘There’s a difference in your mind straight away – you think: “I’m investing money, I’m not gambling”.’
Anthony stresses that one of the biggest issues with cryptocurrencies, such as Bitcoin, is the lack of regulation – something that encourages addictive behaviours.
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